Stocks Add To Gains; Grand Canyon Earnings On Tap

Stocks strengthened late Tuesday, despite this morning's surprising dip in the National Association of Home Builders' index in February. All of the major stock indexes have hit fresh multiyear highs.

The S&P 500 pushed its gain to 0.6% and drove further into a five-year high in the stock market today. The Nasdaq rose 0.5% to its best levels in more than 12 years. Meanwhile, the Dow Jones industrial average climbed 0.4%. NYSE volume was tracking lower, but Nasdaq trade was running a hair higher.

Grand Canyon Education (LOPE) rallied to its best levels in more than two years, ahead of its fourth-quarter earnings after the close. Analysts see EPS up 12% to 38 cents, with sales up 20% to $136 million. Sales are slated to grow 21% to nearly $136.2 million. The stock is almost 3% past a 25 buy point in a cup-with-handle base.

Tupperware (TUP) climbed 3% to an all-time high in fast trade. The stock cleared a tight area and now sits 17% past a 67.92 buy point from a flat base. Last month, the company beat views with a 14% rise in Q4 earnings and boosted its dividend by a whopping 72%.

HDFC Bank (HDB) rose 3% and regained its 50-day line in heavy trading. The stock is in a base-on-base pattern with a 43.12 buy point. But there's also an alternative trigger at 42.21.

On the downside, Yandex (YNDX) was off its session low, but still down 10% in huge trade. Shares slumped nearly 14% on disappointing earnings by the Russian Internet search firm. Earlier, Yandex tripped IBD's 7% to 8% sell rule for investor who bought at its recent 23.99 handle buy point.

Stocks strengthened late Tuesday, despite this morning's surprising dip in the National Association of Home Builders' index in February. All of the major stock indexes have hit fresh multiyear highs.

The S&P 500 pushed its gain to 0.6% and drove further into a five-year high in the stock market today. The Nasdaq rose 0.5% to its best levels in more than 12 years. Meanwhile, the Dow Jones industrial average climbed 0.4%. NYSE volume was tracking lower, but Nasdaq trade was running a hair higher.

Grand Canyon Education (LOPE) rallied to its best levels in more than two years, ahead of its fourth-quarter earnings after the close. Analysts see EPS up 12% to 38 cents, with sales up 20% to $136 million. Sales are slated to grow 21% to nearly $136.2 million. The stock is almost 3% past a 25 buy point in a cup-with-handle base.

Tupperware (TUP) climbed 3% to an all-time high in fast trade. The stock cleared a tight area and now sits 17% past a 67.92 buy point from a flat base. Last month, the company beat views with a 14% rise in Q4 earnings and boosted its dividend by a whopping 72%.

HDFC Bank (HDB) rose 3% and regained its 50-day line in heavy trading. The stock is in a base-on-base pattern with a 43.12 buy point. But there's also an alternative trigger at 42.21.

On the downside, Yandex (YNDX) was off its session low, but still down 10% in huge trade. Shares slumped nearly 14% on disappointing earnings by the Russian Internet search firm. Earlier, Yandex tripped IBD's 7% to 8% sell rule for investor who bought at its recent 23.99 handle buy point.

See Also

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Stocks caught their breath Wednesday, but the tiny index declines and bullish action among market leaders showed that broad underlying strength remains. The Nasdaq's 0.98-point decline — well less than 0.1% — perhaps frustrated or disappointed those who were expecting a deeper pullback. ...

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02/06/2015 07:07 PM ET

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